The arrangement is beneficial to both organisations, NDTV and AIDEM Ventures, says an official joint statement.
Speaking about the development, Dr. Prannoy Roy, chairman and wholetime director, NDTV said, "NDTV has had a wonderful experience working with Raj and his team over the last seven years. They are a highly talented and committed team and we look forward to working together with their new company AIDEM Ventures under a new win-win relationship. We have full confidence in Raj Nayak’s new venture AIDEM becoming a major media player.”
Said Nayak, “In my 23 years of experience, I‘ve had the opportunity of handling some of the biggest media brands in India like ESPN STAR Sports, STAR TV Network and many more... but launching NDTV channels in 2003 with Radhika and Prannoy Roy and the NDTV team was one of the most exciting and challenging assignments of my career."
He further added, "The brand equity of NDTV is unparalled – and sets an example on how to maintain a solid Chinese wall between commercial considerations and editorial independence. We’ve shared and continue to share a great professional relationship and personal friendship and I am thankful to the NDTV management for continuing to place their faith in me and my team, and entrusting my new company with the responsibility of continuing with their business."
Under the new arrangement, NDTV aims to save substantially on costs and, having renegotiated the terms of engagement, will have greater control of its sales operations and at the same time ensure continuity in its revenue stream. It will work closely with AIDEM Ventures.
To read Anant's blog on Raj Nayak, click here.